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Updated over 17 years ago on . Most recent reply

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Still looking for first deal, what do you think?

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Posted

Had someone call me and provided me with this information:

5 bed/3ba
tile floor
ocean view
roughly 3k sq ft

There is a 1st Mortgage of $576k @ 6.5%
2nd of $108k @ 9%
He also said they are 5 year arm

Other notes are that he said he put 35k into the property.
His motivation for selling: Him and his partner take a hit on the commute to work. Says property is too big for him and his partner because it is just the two of them. He said he was realistically expecting around $569k so I used the range technique and said "So $560-570k?" and he agreed.

I havn't ran the comps yet. Should I do so with a realtor in the area?

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